TransAlta (TSE:TA) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

TransAlta (TSE:TA) (NYSE:TAC) had its price target raised by ATB Cormark Capital Markets from C$27.00 to C$28.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective indicates a potential upside of 55.04% from the stock’s previous close.

Other analysts have also issued reports about the company. National Bank Financial boosted their price target on TransAlta from C$18.00 to C$22.00 and gave the company a “sector perform” rating in a report on Wednesday, December 10th. TD Securities lifted their target price on TransAlta from C$26.00 to C$27.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Desjardins cut their target price on TransAlta from C$19.00 to C$18.00 and set a “hold” rating on the stock in a research note on Tuesday, February 10th. Jefferies Financial Group reduced their price target on TransAlta from C$27.00 to C$22.00 in a research report on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce raised their price target on shares of TransAlta from C$25.00 to C$26.00 in a research note on Wednesday, December 17th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$24.25.

TransAlta Stock Performance

TSE:TA opened at C$18.06 on Tuesday. The stock has a market capitalization of C$5.36 billion, a P/E ratio of -28.22, a price-to-earnings-growth ratio of -0.07 and a beta of 0.49. The company has a current ratio of 0.73, a quick ratio of 0.62 and a debt-to-equity ratio of 320.51. TransAlta has a 1 year low of C$11.16 and a 1 year high of C$25.03. The firm has a 50 day moving average of C$17.74 and a 200-day moving average of C$19.15.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings results on Friday, February 27th. The company reported C($0.06) EPS for the quarter. The business had revenue of C$712.00 million for the quarter. TransAlta had a negative return on equity of 8.84% and a negative net margin of 5.74%.

Insider Activity

In other news, insider Jane Nyla Fedoretz sold 10,000 shares of TransAlta stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of C$17.45, for a total value of C$174,500.00. Following the transaction, the insider owned 103,953 shares in the company, valued at approximately C$1,813,979.85. The trade was a 8.78% decrease in their ownership of the stock. Insiders sold 22,500 shares of company stock worth $394,550 over the last quarter. 0.21% of the stock is currently owned by company insiders.

Key TransAlta News

Here are the key news stories impacting TransAlta this week:

• Positive Sentiment: Wolfe Island wind turbines are being returned to service after an incident that removed a blade from one unit; restoration of capacity reduces outage-related lost generation and supports near-term revenue and cash flow recovery. Wolfe Island wind turbines coming back online after blade falls off
• Positive Sentiment: Two broker actions upgraded TransAlta and raised price targets: ATB Cormark lifted its target to C$28 and kept an “outperform” stance, and National Bank Financial upgraded to “outperform” with a C$22 target — both signals can attract buyers and provide headline support for the share price. Analyst rating updates (BayStreet.CA) Zacks / National Bank coverage
• Negative Sentiment: Insider selling: director/insider Jane Nyla Fedoretz disclosed two sales on March 24 totaling 17,500 shares at average prices ~C$17.45–C$17.70, reducing her stake materially. While insider sales can be for many reasons, they can be perceived negatively by investors and add selling pressure. Insider transaction filings (MarketBeat)
• Negative Sentiment: Technical caution: coverage noting TA has crossed below its 200‑day moving average, a commonly watched signal that can trigger additional technical selling or reduce interest from momentum-focused funds. TransAlta Shares Cross Below 200 Day Moving Average (AmericanBankingNews)

About TransAlta

TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of thermal generation and hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live.